Under the Uniform Securities Law, broker-dealers are required to sign a consent to service of process

Under
the Uniform Securities Law, broker-dealers are
required to sign a consent to service of process.
Filing such a consent means that:
a) The individual may not be required to give
self-incriminating testimony in the event of a proceeding.
b) The Administrator is permitted
to assess fines or other penalties in the event of
a violation of
the Act.
c) The Administrator is empowered to receive suits
on behalf of the individual.
d) The individual is under the jurisdiction of the
Administrator for up to a year after registration
is withdrawn.

A:

The correct answer is c.
The consent to service of process appoints the Administrator
as attorney in the event of any lawsuits that may
be filed. This ensures that the individual cannot
be sued for a securities related violation without
the Administrator knowing about it. Once the Administrator
receives such a suit, the individual is promptly
notified of the suit.